Celestila Moonn, an UMB Global Affairs major student registered for the online Global Financial Markets course. After completing the reading of “An overview of the Global Financial Markets” Moonn stated the following regarding the trends in the growth of global financial markets since the 1990s. The significant growth in foreign financial markets is the result of several factors. First is the increase in the pool of savings in foreign countries (e.g., the European Union). Second, international investors have turned to U.S. and other markets to expand their investment opportunities and improve their investment portfolio risk and return characteristics. This is especially so as the value of public pension plans has declined in many European countries and investors have turned to private pension plans instead. Third, information on foreign investments and markets is now more accessible and thorough—for example, via the Internet. Fourth, some U.S. FIs—such as specialized mutual funds—offer their customers opportunities to invest in foreign securities and emerging markets at relatively low transaction costs. Fifth, while the euro has had a significant effect throughout Europe, it is also having a notable impact on the global financial system. Despite challenges resulting from the Greek (and to some extent the European) debt crisis of the 2010s, the euro is still one of the world’s most important currencies for international transactions. Finally, deregulation in many foreign countries has allowed international investors greater access and allowed the deregulating countries to expand their investor bases (e.g., until 2012, individual foreign investors faced severe restrictions on their ability to buy Indian stocks). As a result of these factors, the overall volume of investment and trading activity in foreign securities is increasing, as is the integration of U.S. and foreign financial markets. Do you agree or disagree with Moonn? Briefly discuss.